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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0435%/8h= −47.6% APRpaid last 24h +0.001%
Price spread now: Arcus against Bybit+0.063%46s7-day average +0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$500.500% of the position
Long on BybitShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.010%+$1 on $10k
Price spread, last 4 days (all we have)+0.118%+$12 · spread now +0.063%, 7d avg +0.050%
Together, before fees+0.129%+$13 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.050%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.010% in total (about 1.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit TAOUSDT319.460.0636pay 0.0318% / 4h3h 50m$65.8M$130.2M50x
ShortArcus TAO-USD319.660.0201get 0.0025% / 1h50m 48s$84K$545K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$91.27
Price spread: +0.063% → +0.050%
$1.27
Slippage, 4 orders
−$34.52
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$140.01
Costs to cover
0.500%
Break-even
never at this rate
Slippage from Bybit: live order book, 3 min ago; Arcus: live order book, 23 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 3 min ago0.16 bp12.7 bp −$1322.2 bp −$22255.1 bp −$5,513doesn't fit
Sell Arcus live order book, 23 min ago8.66 bp13.7 bp −$1428.4 bp −$284doesn't fitdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.1799%1h311.96−2.348%$167K$44K10xas long as short
Phemex TAOUSDT−0.0839%4h318.72−0.232%$3.4M$7.9M50xas long as short
dYdX TAO-USD0.0000%1h320.40+0.294%$128K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h319.64+0.058%$21K—150xas long as short
Deribit TAO_USDC-PERPETUAL+0.0069%1h319.10−0.113%$22K$1.5M25xas long as short
Popdex TAOUSDT+0.0096%1h319.80+0.106%$42K$578K20xas long as short
Katana Perps TAO-USD+0.0100%8h319.79+0.103%$654$594K5xas long as short
Binance TAOUSDT+0.0100%4h319.02−0.137%$91.8M$440.4M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h319.10−0.113%$25.9M$106.7M50xas long as short
Gate TAO_USDT+0.0100%4h318.90−0.175%$12.9M$49.7M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC TAO_USDT+0.0100%4h319.07−0.122%$105.4M$131.8M300xas long as short
KuCoin TAOUSDTM+0.0100%4h319.04−0.131%$19.0M$28.3M75xas long as short
Bitget TAOUSDT+0.0100%4h319.29−0.053%$35.7M$48.9M50xas long as short
edgeX TAOUSDC+0.0100%4h318.79−0.209%$36K$288K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h318.51−0.297%$48K$268K50xas long as short
Orderly PERP_TAO_USDC+0.0100%4h319.40−0.019%$57K$316K10xas long as short
SunX TAO-USDT+0.0100%4h319.00−0.144%$2K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h318.61−0.266%$127K$422K20xas long as short
Aevo TAO-PERP+0.0104%1h319.61+0.047%$176K$9983xas long as short
GRVT TAO_USDT_Perp+0.0168%4h320.12+0.206%$532K$945K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0085%1h319.60+0.043%$462K—100xas long as short
Pacifica TAO+0.0185%1h320.52+0.331%$379K$371K10xas long as short
Arcus TAO-USDshort+0.0201%1h319.66+0.063%$84K$545K5x
Aster TAOUSDT+0.0222%4h319.19−0.085%$1.1M$8.1M50xas long as short
Paradex TAO-USD-PERP+0.0226%8h320.04+0.182%$15K$1K10xas long as short
Bullet TAO-USD+0.0274%1h319.96+0.157%$12K$17K20xas long as short
Variational Omni TAO+0.0305%4h320.13+0.208%$5.5M$8.6M—as long as short
BloFin TAO-USDT+0.0340%4h319.32−0.044%$4.4M$10.9M100xas long as short
Polymarket Perps TAO-USD+0.0345%1h320.58+0.351%$100K$634K5xas long as short
BingX TAO-USDT+0.0378%4h319.13−0.103%—$30.7M—as long as short
Kraken Futures PF_TAOUSD+0.0481%1h318.87−0.183%$5.8M$20.3M50xas long as short
Phoenix TAO+0.0525%1h321.00+0.482%$336K$624K5xas long as short
Injective TAO/USDC PERP+0.0571%1h320.58+0.351%$23K$49512xas long as short
Bybit TAOUSDTlong+0.0636%4h319.46long leg$65.8M$130.2M50x
Reya TAORUSDPERP+0.0695%1h320.52+0.331%$369—20xas long as short
Nado TAO-PERP+0.0762%1h320.36+0.280%$892K$2.0M10xas long as short
01 Exchange TAOUSD+0.0832%1h320.08+0.194%$3K$4K5xas long as short
Coinbase International TAO-PERP-INTX+0.0984%1h321.35+0.592%$1.5M$6.1M50xas long as short
Backpack TAO_USDC_PERP+0.1022%1h319.03−0.135%$318K$820K10xas long as short
Extended TAO-USD+0.1048%1h319.04−0.133%$933K$2.2M25xas long as short
RISEx TAO/USDC+0.1141%1h319.39−0.021%$422K$586K5xas long as short
Lighter TAO+0.1784%1h319.51+0.017%$1.7M$5.9M5xas long as short
Hyperliquid TAO+0.2902%1h320.10+0.200%$104.7M$88.6M5xas long as short